With continued volatility in the market, TipRanks brings you the latest analyst action on some of your favorite stocks to help you navigate through the ups and downs. Let’s take a closer look at the top bullish and bearish calls of the day and see what market pundits are recommending.
Upgrades
1. Babcock International
Barclays analyst Charlotte Keyworth upgraded Babcock (BCKIF) to Hold from Sell and increased the price target to 315 GBP from 145 GBP citing the company’s recent update. According to Keyworth, the company’s significant divestment program to streamline its portfolio and deleverage, rather than an expected capital raise, has been considered as a positive surprise by investors.
According to TipRanks’ Smart Score system, Babcock gets a 6 out of 10, which indicates that the stock is likely to perform in line with market averages.
2. GasLog Partners
Jefferies analyst Randy Giveans upgraded GasLog Partners (GLOP) to Buy from Hold “based on attractive EV/EBITDA, P/E, and NAV valuations.” Giveans said, “LNG shipping rates fell from January peaks, following a normal seasonal pattern, but are already recovering faster than expected on strong LNG demand in Northeast Asia. Despite the recovery in LNG charter rates and a positive outlook for the remainder of 2021, GLOP units have traded lower in recent weeks… We believe the attractive industry fundamentals and improving charter rates will act as a tailwind for GLOP units.” The analyst maintained a price target of $4.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on GasLog Partners, with 2.8% of investors increasing their exposure to GLOP stock over the past 30 days.
3. GSX Techedu
Goldman Sachs analyst Christine Cho double upgraded GSX Techedu (GSX) to Buy from Sell but decreased the price target to $60 from $70. According to Cho, though ongoing regulatory uncertainties are likely to impact investor sentiment on the sector, the current share price provides a “compelling” risk-reward relative to its peers. Furthermore, the double upgrade is relative to the analyst’s China Education coverage.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on GSX Techedu, with 29.6% of investors increasing their exposure to GSX stock over the past 30 days.
4. BP Midstream Partners LP
J.P. Morgan analyst Joseph Martoglio upgraded BP Midstream Partners (BPMP) to Buy from Hold and increased the price target to $16 from $14. In a note to investors, Martoglio said that the company’s portfolio reflected “impressive resiliency” in 2020. Furthermore, the analyst believes that the valuation discount might contract as the company uses excess cash to return capital to shareholders or to accelerate growth.
TipRanks’ Hedge Fund Trading Activity tool shows that confidence in BP Midstream is currently Positive, as 2 hedge funds increased their cumulative holdings of the stock by 155,600 shares in the last quarter.
5. Howard Bancorp
Stephens analyst Brody Preston upgraded Howard Bancorp (HBMD) to Buy from Hold and increased the price target to $19.50 from $17.50 following the bank’s first-quarter earnings release. According to Preston, talent additions and expansion into D.C. in 2021 has accelerated the bank’s loan growth. Furthermore, the analyst foresees the bank’s fee income increasing in 2022, following the recent conversion of consumer checking accounts to a new subscription-based model. Moreover, the stock’s current valuation is “too low,” added the analyst.
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 2 Buys and 1 Hold. The average analyst price target of $19.75 implies 17.6% upside potential to current levels.
Downgrades
1. PotlatchDeltic Corporation
BMO Capital analyst Ketan Mamtora downgraded PotlatchDeltic (PCH) to Hold from Buy but increased the price target to $61 from $58. Mamtora moved to the sidelines as despite the company’s strong fundamentals, he believes the stock is currently around 10% over-valued compared to its estimated net asset value (NAV). He does, however, think that high lumber prices are likely to “turbocharge Q2 results”.
TipRanks’ Hedge Fund Trading Activity tool shows that confidence in PotlatchDeltic is currently Neutral, as 4 hedge funds decreased their cumulative holdings of the stock by 440,400 shares in the last quarter.
2. W. R. Grace & Co.
UBS analyst John Roberts downgraded W.R. Grace (GRA) to Hold from Buy and decreased the price target to $70 from $71 after the company agreed to be acquired by Standard Industries in an all-cash deal valued at $7 billion, or $70 per share. Roberts expects the deal to be approved soon.
TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on W. R. Grace, with 29% of investors decreasing their exposure to GRA stock over the past 30 days.
3. Hilltop Holdings
Stephens analyst Matt Olney downgraded Hilltop Holdings (HTH) to Hold from Buy but increased the price target to $37 from $36. In a note to investors, Olney said that though the company had a “convincing revenue and EPS beat” in the first quarter compared to consensus estimates, elevated headwinds are expected in 2021 as mortgage industry volumes are likely to be under pressure.
TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Hilltop Holdings is currently Neutral, as 5 hedge funds decreased their cumulative holdings of the stock by 84,500 shares in the last quarter.
4. Proofpoint Inc.
Truist Financial analyst Joel Fishbein downgraded Proofpoint (PFPT) to Hold from Buy but increased the price target to $176 from $155 after Thoma Bravo announced that it will acquire Proofpoint in a cash-deal worth $12.3 billion.
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 5 Buys and 11 Holds. The average analyst price target of $170.15 implies 1.2% downside potential to current levels.
5. WhiteHorse
J.P. Morgan analyst Melissa Wedel downgraded WhiteHorse (WHF) to Sell from Hold but increased the price target to $15.50 from $14.50 citing relative valuation for the re-rating. According to Wedel, business development companies with lower portfolio leverage are well-positioned to drive the portfolio’s incremental earnings power.
According to TipRanks’ Smart Score system, WhiteHorse gets a 5 out of 10, which indicates that the stock is likely to perform in line with market averages.
Besides the above, you can also have a look at the following:
3 Big Dividend Stocks Yielding at Least 7%; Analysts Say ‘Buy’
NIO: Why Deutsche Bank Is Lowering Its Price Target Ahead of Earnings
Buy These 2 New Stocks Before They Jump Over 60%, Says Goldman Sachs
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